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7/16, 5:44 PM (Source: TeleTrader)
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OPEC+ to do what is necessary on oil matter - S. Arabia

Saudi Foreign Minister Prince Faisal bin Farhan stated on Saturday, during a press conference, that the Organization of Petroleum Exporting Countries (OPEC) and its partners will continue to assess the situation on the market and act accordingly.

The minister further continued by saying that should the expansion of oil investments fail, the prices of crude are most likely to increase in the future.

He also stated that oil production was not a topic of discussion during the Jeddah summit. He explained that the organization is in constant talks with the United States when it comes to this issue and is ready to do what is necessary.

Baha Breaking News (BBN) / AY